We first got the idea when we were driving around Japan and started noticing signs for closed onsens. We started asking onsen owners if they might be interested in making money by creating power from their hot water and in parallel, we established our local subsidiary.
For business owners, it is a relief to have income from two different sources. Now, when the tourist business is down, I will still have money coming in from the power being generated from the Climeon heat power plant
It is almost unprecedented to bring a power plant from idea to completion in 18 months, regardless of power source, if we can accomplish this in Japan, which is known as one of the toughest markets in the world to enter, there’s no reason we can’t replicate it elsewhere.
This is an incredibly important milestone for Climeon, together with our partners at Baseload Capital, we are now contributing to the energy transition in Japan by turning hot water into clean electricity.
The ability to harness heat power will help Japan transition to a green baseload more quickly, it is proof that we can create energy without contributing to global warming, and it puts our nation on the path to energy independence.